News

It was announced today that the long-awaited NSW strata reforms (previously expected to be implemented on July 1st this year) have been delayed.

The reforms are the first major updates to be made since 1973 and are a significant move towards modernising the regulations for people living in strata scheme apartments.

A summary of the main changes in the pending strata law reforms was released by the Real Estate Institute of New South Wales­ and can be downloaded here.

It is expected that we’re unlikely to see the new regulations come into play until at least September this year … the delay is not all bad news however, as according to Strata Community Australia NSW who have been lobbying for the delay, it allows more time for the strata sector to “update its processes and procedures, to train staff and to educate owners corporations on changes and their obligations.”

Stay tuned for more updates.